Tuesday, August 23, 2011

Small Losses


Small losses was my goal today.  I accomplished that.  The first clump of arrows you see is me getting short and bailing because the trades came back on me.  Blue line entry area, red line initial stop, and green line R 1.0 area.  All short trades on the chart.

Trades: -3, -1, -2, -1, -2, -2, B.E., and +18 pips.  Came ahead +R 0.8 in the end.  Tomorrow I will try to be patient with entries  :).




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3 comments:

  1. TradeThiefAugust 23, 2011 at 5:00 PM

    Nice trading, I used to take 1 shot at a breakdown, and then give up on the idea if it failed, but if your thinking clearly it usually pays to take multiple shots, I had a similar string of losses a few days ago, and a couple good trades put me back in the green, effectively wiping out 6-7 losses.

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  2. ZoomieAugust 23, 2011 at 5:59 PM

    Hey Scalpwiz, I need to work reentries. I don't think I needed to try 7 times on that first trade before it went my way.

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  3. TradeThiefAugust 23, 2011 at 9:38 PM

    Working on re-entries myself, I usually just try to buy the new highs / short the new lows coz that's usually the only way I can be confident that the chop/pullbacks have ended, but only if I'm still confident in my original idea.

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